NZF takeover offer for Mike Pero goes unconditional

New Zealand Finance (NZF) Holdings has declared its takeover offer for Mike Pero Mortgages unconditional, after buying a 54 per cent stake in the company from Gould Holdings.

In a substantial shareholders notice posted to the stock exchange today NZF said Gould Holdings had accepted the 82c a share offer and sold its 13.5 million shares, representing a 54 per cent stake.

Gould had agreed to sell its stake in a pre-bid lock up agreement. NZF's offer had been conditional on receiving acceptances for 50.1 per cent of MPM.

Gould Holdings is an investment vehicle of Christchurch businessman George Gould.

Shares in Mike Pero were issued at $1 in May last year, but dropped to a low of 55c in April as banks stopped paying commissions on Mike Pero-brokered mortgages.

Today Mike Pero shares were trading unchanged at 83c.

- NZPA